All
Authorized Dealers
In Foreign Exchange,
Dear
Sirs,
FOREIGN
CURRENCY ACCOUNTS
Attention
of Authorised Dealers is invited to paragraph
5 of F.E. Circular No. 17 of 1998. Government of Pakistan
have through SRO 517(1)/98 dated the 5th June,
1998 clarified that the exemption from Wealth Tax mentioned
therein will apply to the rupee funds or assets created
out of withdrawals from foreign currency accounts, subject
to the conditions mentioned therein.
2.
Authorised Dealers are advised to add the words at any time
at the end of the first sentence of paragraph C(2) of
F.E. Circular No. 25 of 1998 as amended vide F.E.
Circular No. 26 of 1998.